Analyst Revises Fortinet, Inc. (NASDAQ:FTNT) Stock Target


Fortinet, Inc. (NASDAQ:FTNT) mean price target has been set at $40.540 by Thomson Reuters. The group worked out on the stock recommendations given by analysts in the First Call poll. Further, it is possible that the company may register per share earnings of $0.280 in the near-term quarter and $0.700 for the ongoing fiscal. The market cap of Fortinet, Inc. was recorded at $6.36B after the stock closed at $36.830 in last trading day.

What The Valuation Says?

The price/earnings ratio is taken in the list of ratios that leads to a stock’s valuation. Commonly named as P/E ratio, it helps investors know where the company stands in the market. It is derived by dividing share’s latest price by per-share earnings. Fortinet, Inc. (NASDAQ:FTNT) has a P/E ratio of 995.541. Investors can identify how the stock is doing in the market by estimating Price-to-Earnings Growth ratio.

Fortinet, Inc. (NASDAQ:FTNT) PEG ratio sits at 2.460. A low PEG ratio offers an investment opportunity to the opportunistic traders and investors. In case a stock has a reading in between 0 and 1, it represents undervalued stock. A reading of 1 and 2 represents fairly priced stocks.

Technical Perspective

The technical analysis of Fortinet, Inc. visibly illustrates that the 50-day MA of Fortinet, Inc. is $34.877, and stock is trading $1.958 points away or +5.615% from its 50-day moving average of $34.877. Further it is trading $4.763 or +14.850% away its 200-day moving average of $32.072. Fortinet, Inc. (NASDAQ:FTNT) 52-week high is $46.500 and the 52-week low is $23.160. This represents that if the stock moves $-9.665 points up on the chart to it will make a 52-week high. But, if it declines +59.046%, then the shares price can hit a new 52-week low.

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